Vietnam key trade partner of Russia in SE Asia: official

Vietnam has become a key trade partner of Russia in Southeast Asia, which is proved through the results of the two countries’ economy-trade cooperation in 2018 (Illustrative photo: AFP/VNA)

Hanoi (VNA) – Vietnam has
become a key trade partner of Russia in Southeast Asia, which is proved through
the results of the two countries’ economy-trade cooperation in 2018, Russian
news agency TASS quoted Vyacheslav Kharinov, Chief Representative of the Russian
Trade Office in Vietnam, as saying.

Kharinov said the Russia-Vietnam trade
revenue strongly surges this year and is likely to surpass the estimate mark of
6.2 billion USD.

According to statistics of the Russian
side, the country’s main exports to Vietnam include foodstuff, accounting for
34 percent, followed by machinery (20.7 percent), nonferrous metal and metallic
products (16.6 percent).

Wheat flour topped the lists of Russia’s
exports to Vietnam for the first time, hitting 476.9 million USD in the first
10 months, a rise of 2.5 times year-on-year.

Meanwhile, electronic devices, including
computers, cell phones and accessories, were Vietnam’s leading export to Russia,
making up 60 percent of the total export revenue.

Kharinov affirmed that Russian firms are
very attentive to Vietnam’s market, voicing his belief that they will increase
their presence in Vietnam over the time.

Aside from foodstuff, businesses from
Russia have provided high technology solutions for Vietnamese counterparts in
“smart city” building, water filter and treatment, medical equipment using
nuclear technology, among others, the official noted.

He also pointed out some technical and
administrative barriers, such as in animal health control and phytosanitary, to
be removed to further facilitate the increase of the bilateral trade. -VNA